THE jobs cull in the banking sector continued today when HSBC said it would cut around 1,700 posts from its UK workforce.
The bank said the biggest cuts will come in its credit card and collections operation, which will be reduced from nine regional offices to two sites in Birmingham.
Further losses will occur among branch network back office staff in the UK.
HSBC declined to provide location details for those offices set to close.
The bank said a number of additional jobs would be created in the Birmingham offices.
HSBC’s announcement comes after Royal Bank of Scotland yesterday revealed plans to cut 3,700 jobs across its UK branch network.
Unite said the cuts would be centred on HSBC sites in Southampton, Southend, Leicester and Sheffield and would bring the total number of job losses at the bank to 4,600 so far this year.
National officer Rob MacGregor described the move as a "fundamental mistake".
"The union does not believe this will do anything to improve the company’s future performance," he said.
"HSBC should think again before cutting its skilled and dedicated workers."
He said many of the staff affected earned as little as £14,000 per year.
HSBC, which employs about 40,000 people in its UK retail bank division, said the jobs would be lost over the next year.
The firm later revealed there will be 212 roles lost in Southampton, 594 in Southend, 32 in Leicester, 109 in Sheffield, 17 in Birmingham, seven in London, 40 in Leeds, and 80 in Manchester. Various others will go across the country.
Today’s announcement relates to the jobs to be cut in the business, rather than the estimated number of workers affected.
Because some staff work part-time and in effect share roles, it is thought around 2,200 people could actually lose their jobs as a result of the moves.
HSBC’s UK chief executive Paul Thurston said: "Decisions that affect our people are always difficult, but this restructure is an essential part of the streamlining of our business and the migration of activities into centres of excellence around the country.
"We will do everything we can to support those of our people who are directly affected and to minimise the number of redundancies.
"We have a good track record of redeployment and we will make every effort to maintain it."
HSBC said it expects "several hundred" new roles to be created in the restructuring.
The bank said it had also managed to redeploy a proportion of the people whose roles have been been included in previous job cut announcements.